French Prime Minister Manuel Valls Outlines Spending Cuts

Plans $69 Billion in Cuts for 2015 to 2017

PARIS—French Prime Minister Manuel Valls Wednesday laid out a raft of measures to cut spending, including in the controversial area of welfare benefits, as France strives to repair its public finances.

Mr. Valls, who has been in the job for less than three weeks, unveiled some details as to how the government aims to extract €50 billion ($69 billion) in savings between 2015 and 2017. Mr. Valls indicated for the first time that the government is prepared to take aim at politically sensitive areas of France's welfare state...